EV stock to buy: Nearly one-and-a-half years after its listing, Ather Energy has emerged as one of the newest multibagger stocks of Dalal Street. Despite its nearly 130% rally in one year, experts are still bullish on the stock. Bank of Baroda Caps sees nearly 19% more upside potential in the EV stock.
Ather Energy share price closed with 2% gain on Friday, after seeing sharp volatility throughout the week.
Ather Energy share price is likely to benefit from its business growth led by capacity boost, lower cost architecture and battery led BOM savings to aid gross margins.
The Bengaluru-headquartered EV maker is venturing into ₹1-1.25 lakh segment with Konarc/EL launch. Its established premium technology-driven regional brand recognition and shift to convenience segment are likely to help spread “its wings in the mass market segments”, noted BOBCAPS in its report.
“We value Ather at 16x Sep 2028 M-cap/Gross Block, 20% below the average valuation of TVS and BJAUT two key companies (leaders in EV segment) in the 2-W segment,” read the BOBCAPS report.